Gujarat Based Infrastructure Management Company, Indifra Ltd is planning to raise Rs. 14.04 crore from its
SME
public issue. The public issue opened for subscription on December 21 and closed on December 27. The Proceeds of the public issue will be used for funding investment for acquisition, meet working capital requirements, and General Corporate Purposes.
Beeline Capital Advisors Pvt Ltd
is the lead manager of the issue.
The initial public offering comprises a fresh issue of 21.60 lakh equity shares of face value Rs 10 each at a price of Rs 65 per share (including a premium of Rs 55 per equity share) aggregating up to Rs 14.04 crore. The minimum lot size for the application is 2000 shares which translates into an investment of Rs 1.30 lakh per application. The company has received approval to launch its public issue on the
NSE
Emerge Platform of the National Stock Exchange.
Incorporated in 2009, Indifra Limited provides infrastructure management contracting, gas pipeline laying and electrical equipment distribution services. The company has two business verticals including Pipeline and Infrastructure Management Contracting Services and Distribution of electrical appliances. The company provides gas supply companies with the management of their gas supply pipelines. As of December 2023, the company is providing gas pipeline management services to Charotar Gas Sahakari Mandali Limited (CGSML). The company has also worked for Adani Gas Limited.
For the FY22-23 company reported total revenue of Rs10.01 crore and net profit of Rs 0.99 crore. As on 31st March 2023, net worth of the company at Rs 1.69 crore and reserves and surplus of Rs 1.68 crore. Promoter holding post-issue will be 67.55%.
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